Property News

Yangon Myothit (New Town) project has been approved by Hluttaw to implement on the other side of Yangon River near Kyimyindine Township. The project will be implemented by the management of Yangon Regional Government, Chief Minister U Phyo Min Thein said. The project has been also approved in the first term of Hluttaw and now it is the second term of Hluttaw. If the project is not concurred, it can be discussed at the second term of Hluttaw, U Phyo Min Thein said at the meeting of Vice President and the business entrepreneurs held on 1st February in Yangon. “ We can discuss about the project in Hluttaw. This project is one of our continuous processed to be implemented,” U Phyo...

The housings sale center will be opened for the squatters and the immigrants from all places in order to get housings, said Yangon Chief Minister U Phyo Min Thein. It is planning to open sale center under the office of Urban and Housing Development on Bogyoke Road, said U Phyo Min Then at the meeting of Vice President and business entrepreneurs held on 1st February in Yangon. In Singapore, the housing projects are implemented by forming housing development committee. In also Yangon, the housing projects will be implemented led by Yangon Regional Government during three years. The housing projects will be implemented to solve housing problems of the squatters and the immigrants on...

The new Danyingone market would become the country’s first international standard market under the new Government’s days, said Yangon Chief Minister U Phyo Min Thein at the opening ceremony of flowers, fruits and vegetables wholesale market in Danyingone, Insein Township. “We have to preserve and reform Bogyoke Aung San Market to stand as international standard market without much change and losing its heritage. Bogyoke Aung San Market is one which many tourists are interested in. In addition, we need to reform more than (170) markets in Yangon Region. Danyingone Market would become the country’s first international standard market under the new Government’s days,” U Phyo...

Co-developers are being invited to invest in Mandalay-Myotha Industrial Park project. The project is being implemented by Mandalay Regional Government in cooperation with Mandalay-Myotha Industrial Development Public Company (MMID), said Chairman of MMID. Either the boards of Directors or company’s shareholders are invited as Co-developers. They all will get the same rights. If the investment is made only by MMID, the improvement can be sluggish. For that reason, Co-developers are being invited. Mandalay-Myotha Industrial Development Public Company (MMID) has been implementing the project with the investment amount of USD$ 123 million on more than 10,000 acres of land since 2013....

The listing criteria will be reduced to increase in the numbers of companies listed on Yangon Stock Exchange because the stock exchange needs more companies to be on board in order for the stock market to grow and develop, said a senior officer of Scanning Electrochemical Microscopy (SECM). The companies can be listed on YSE if they meet with 17 criteria including having capital of at least K 500 million and having profit in their business during at least two years prior to the applying date to be listed on YSE. Efforts are being made to reduce some criteria, he explained. “There are companies which want to be listed in Yangon Stock Exchange but they cannot apply due to some...

People who have the opportunity in purchasing low-cost housing projects must get in touch with the Department of Urban and Housing Development. If not, they would be withdrawn from the lists. The lists that could purchase low-cost housing project have been announced at the Office (40), the Department of Urban and Housing Development, Naypyitaw and the Department of Urban and Housing Development on Bogyoke Aung San Road, Yangon Region and the CHDB branches. “They must contact the Department during two weeks. If not, they would be canceled from the lists. Some of them didn’t get their desired room, so, they don’t want to purchase. It would aggrieve for those who really want to...

The apartments of Shwe Pyi Thar low-cost housing project will be directly sold by the Yangon City Development Committee with the cash down payment system. These are valued between the minimum price of K10.9 million and the maximum price of K17.3 million, according to the statement released from the Yangon City Development Committee. The project to be sold by YCDC is Shwe Pyi Thar low-cost housing project at the corner of Setmhu Road and Padauk Road, Shwe Pyi Thar Township, Yangon Region. The apartments with the width of 490sqft of four units of six-story RC building with eight rooms in the project will be sold. The ground floor room is priced about K17.4 million, the first floor...

During 2017, the real estate market was fairly stable. But now, it is the first month of 2018 and the rental market is more active than any others situations in the market. Downtown Townships In Downtown Townships of Yangon, the rental market is more active with economic rents, residential rents. The economic rents are for the reasons in order to operate the business. Four Dagon Townships In East Dagon, South Dagon, North Dagon and Dagon Seikkan Townships, the transaction is normal. In North Dagon, the transaction was stable in the previous month but the plots are currently in sales, according to the news from the real estate agents. The plots valued about K70 million and K80...

Two projects of Industrial Zone and Special Economic Zone including housings projects will be implemented during five years. For these projects, Prime Minister U Phyo Min Thein made land tests on 20th January. In addition, the six-lane, eight-lane, high-rise buildings, supermarket and 200ft-wide platforms for public recreations are earmarked to be implemented in Smart City Project. After the terrain had been checked, the project will be submitted to the Pyi Htaung Su Hluttaw. When the project has been approved by Pyi Htaung Su Hluttaw, Yangon Regional Government and Yangon Regional Hluttaw, it would be implemented. Therefore, it would be delayed. The (20) companies would be...

Eco Green City Project will be implemented on 1600 acres of land beside Yangon-Mandalay Expressway, Hlegu during this year, said U Myint Naing, Deputy Director-General of the Department of Urban and Housing Development under the Ministry of Construction. According to the contract signed by the former government, the project will be implemented. First of all, the low-cost housing project valued about K 96 billion will be implemented, the responsible persons of the department said at the press conference held at the project area on 23rd January. “To implement the project, the Master Plan is being drawn again by the company. After that, we will know the project cost,” U Myint Naing...